Company Registration No. 08539327 (England and Wales)
Qualair Limited
Unaudited accounts
for the year ended 31 May 2017
Qualair Limited
Unaudited accounts
Contents
Qualair Limited
Company Information
for the year ended 31 May 2017
Company Number
08539327 (England and Wales)
Registered Office
Suite 2, Second Floor, Orange Zone
Halton Lea
Runcorn
Cheshire
WA7 2HF
Accountants
Ruth Elliott & Co
50 Park Lane
Hartford
Northwich
Cheshire
CW8 1PY
Qualair Limited
Statement of financial position
as at
31 May 2017
Intangible assets
16,858
33,715
Tangible assets
15,621
23,924
Cash at bank and in hand
11,111
16,943
Creditors: amounts falling due within one year
(43,321)
(59,482)
Net current liabilities
(24,658)
(39,936)
Total assets less current liabilities
7,821
17,703
Creditors: amounts falling due after more than one year
(12,850)
(21,655)
Provisions for liabilities
Deferred tax
(3,281)
(4,922)
Net liabilities
(8,310)
(8,874)
Called up share capital
100
100
Profit and loss account
(8,410)
(8,974)
Shareholders' funds
(8,310)
(8,874)
For the year ending 31 May 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 13 February 2018.
Mr A Windsor
Director
Company Registration No. 08539327
Qualair Limited
Notes to the Accounts
for the year ended 31 May 2017
Qualair Limited is a private company, limited by shares, registered in England and Wales, registration number 08539327. The registered office is Suite 2, Second Floor, Orange Zone, Halton Lea, Runcorn, Cheshire, WA7 2HF.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 May 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 June 2015
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% straight line
Computer equipment
25% straight line
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
Qualair Limited
Notes to the Accounts
for the year ended 31 May 2017
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Intangible fixed assets
Goodwill
Charge for the year
16,857
5
Tangible fixed assets
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 June 2016
32,320
1,027
33,347
At 31 May 2017
32,320
1,027
33,347
At 1 June 2016
8,671
752
9,423
Charge for the year
8,057
246
8,303
At 31 May 2017
16,728
998
17,726
At 31 May 2017
15,592
29
15,621
At 31 May 2016
23,649
275
23,924
Trade debtors
7,352
2,313
Accrued income and prepayments
200
290
Qualair Limited
Notes to the Accounts
for the year ended 31 May 2017
7
Creditors: amounts falling due within one year
2017
2016
Bank loans and overdrafts
5,072
6,309
Trade creditors
8,790
987
Taxes and social security
7,714
8,221
Loans from directors
21,745
43,965
8
Creditors: amounts falling due after more than one year
2017
2016
9
Deferred taxation
2017
2016
Accelerated capital allowances
3,281
4,922
Provision at start of year
4,922
3,133
(Credited)/charged to the profit and loss account
(1,641)
1,789
Provision at end of year
3,281
4,922
10
Share capital
2017
2016
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
The director Mr A Windsor is the controlling party by virtue of his interest in the share capital of the company.
12
Average number of employees
During the year the average number of employees was 4 (2016: 4).